Morgan Stanley analyst Devin McDermott maintained a Hold rating on Devon Energy Corp (DVN) today and set a price target of $27.00. The company’s shares closed last Monday at $22.53, close to its 52-week low of $20.37.
According to TipRanks.com, McDermott is a 3-star analyst with an average return of 3.3% and a 42.0% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners LP, Occidental Petroleum, and Cheniere Energy Inc.
Currently, the analyst consensus on Devon Energy Corp is a Moderate Buy with an average price target of $33.55.
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Based on Devon Energy Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.78 billion and net profit of $493 million. In comparison, last year the company earned revenue of $2.86 billion and had a net profit of $2.53 billion.
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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil.
